Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Fast bowler Umran Malik has been selected for the national team for the first time after performi
Amitabh Bachchan got injured while shooting in Hyderabad. He gave this information on his blog on
Gautam Adani Loss: Net worth reached below $ 100 billion, Mukesh Ambani once again took a giant leap
Big changes are being seen every day in the list of top billionaires of the world. While Tesla CE
Monkeypox Vaccine: Government alerted by increasing cases of monkeypox, tender for vaccine and kit
The government has become alert because of the ever-increasing cases of monkeypox in the country.
The Maharashtra government has also started preparing to take action against love jihad and force
Prime Minister Narendra Modi virtually inaugurated the 108th Indian Science Congress on Tuesday.
Before the National Congress of the Communist Party in China, once again a new threat of Corona s
As temperatures continue to soar during the peak summer season, refrigerators have become one of
The Central Government has proposed amendments to the Information Technology (Intermediary Guidel
'We will make his Ram Naam Satya...', CM Yogi gave a strong message; Less talk, more results
Chief Minister Yogi Adityanath gave a strong message to those challenging law and order in Baghpa
